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OFZs Soften Slightly as Crimea Summit Lifts Geopolitical Concerns

RUSSIA
  • Local & USD rates trade mixed around the open, having trades softer in yesterday's session. Russia's 10Y OFZ, pulled back from 6.98 resistance but ended a fraction higher on the day.
  • Sell side remains constructive on OFZs, given tentative signs of moderating inflation pressures in Russia – but geopolitical risks remain embedded and a specific concern for this week as tensions with Ukraine tick higher.
  • A move through 6.93 to the downside opens up 6.90 & 6.85 supports.


MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com

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